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USDA-RD Multifamily Housing Rental Assistance: OPEN

USDA-RD Multifamily Housing Rental Assistance
USDA-RD Multifamily Housing Rental Assistance: OPEN

What If Your Rural Housing Could Help The Poor?!

USDA-RD multifamily housing rental assistance program provides payments to owners of USDA-financed rural rental housing, farm labor housing.

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Announcement: USDA-RD Multifamily Housing Rental Assistance Program Application Window Is OPEN

Payments for these projects are disbursed on behalf of low-income tenants unable to pay their full rent.

RuralMoney.com

Who May Apply For USDA-RD Multifamily Housing Rental Assistance Program?

  • Project owners as part of their rural rental housing or farm labor housing new construction financing applications
  • Projects must be established on a nonprofit or limited profit basis

What Is An Eligible Area?

Rental assistance can only be provided for apartments in new or existing rural rental housing and farm labor housing financed properties.

How May Funds Be Used?

Payments are made on behalf of the tenants and become part of the property’s income, which pays operational expenses.

Who May Receive Assistance?

Properties with low or very low-income (1) tenants qualify to receive assistance.

Properties with very low-income tenants receive first priority.

How Do We Get Started?

Rental Assistance is coupled with an application for new construction financing under the rural rental housing or farm labor housing programs.

For questions, contact your designated regional coordinator listed on the USDA-RD website.

Who Can Answer Questions?

Find a regional contact on the USDA-RD website or you can find rural rental properties.

What Governs This Program?

Code of Federal Regulation, 7 CFR 3560-Subpart F

This program is authorized by Title V of the Housing Act of 1949.

NOTE: Because citations and other information may be subject to change, please always consult the program instructions listed in the section above titled “What Law Governs this Program?” For questions, contact your designated regional director listed on the USDA-RD website.

(1) Very-low and low-income: Very-low-income is below 50% of area median income; low-income is 50-80% of area median income.

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